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Some companies charge minimum rates, for example you may rent an excavator for 1 day, but be charged a three-day minimum. The Physical utilization will therefore be 100% on the day, but the financial utilization is actually 300% as you've earned 3 days revenue for 1 day's work.
Thus manufacturers, dealers, suppliers, rental and services business can improve the value their customers derive from their equipment and subsequently improve their own profitability and reduce cost at the same time. Collaboration is a critical factor in the equipment supply chain. [2]
Equipment rental was first developed in Anglo-Saxon countries. It emerged in the UK after the First World War and has now become a multi-billion euro business providing a wide range of construction and industrial equipment for customers globally.The American Rental Association was founded as early as 1955, [1] and the first waves of consolidation took place in the 1970s in North America ...
Nowadays such is the importance of this machinery, some transport companies have developed specific equipment to transport heavy construction equipment to and from sites. Most of the major equipment manufacturers such as Caterpillar, [ 2 ] Volvo, [ 3 ] Liebherr, [ 4 ] and Bobcat have released or have been developing fully or partially electric ...
In the UK Crane Rental industry in the UK, which is one of the most highly developed crane rental industries in the world, special regulations for health and safety and rental procedures are in place. These are maintained as the CPA regulations. [1] In Europe, European Rental Association is the trade body representing the equipment rental industry.
Herc Rentals is an equipment rental company, owned by Herc Holdings. It was formerly a subsidiary of The Hertz Corporation before being spun-off as a separate company in 2016. The company provides rentals of heavy equipment , [ 3 ] tools, power generators and pumps, [ 4 ] as well as sales of used equipment.
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